Schonfeld Strategic Advisors LLC cut its stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 19.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 136,300 shares of the company's stock after selling 32,533 shares during the period. Schonfeld Strategic Advisors LLC owned approximately 0.58% of SiTime worth $29,240,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Blue Trust Inc. increased its stake in SiTime by 44.7% during the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after buying an additional 67 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in SiTime in the fourth quarter valued at approximately $58,000. Smartleaf Asset Management LLC raised its stake in SiTime by 278.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock worth $60,000 after acquiring an additional 206 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of SiTime by 8,460.0% in the 4th quarter. AlphaQuest LLC now owns 428 shares of the company's stock valued at $92,000 after purchasing an additional 423 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of SiTime in the fourth quarter valued at approximately $130,000. 84.31% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, insider Piyush B. Sevalia sold 1,038 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $157.64, for a total transaction of $163,630.32. Following the sale, the insider now directly owns 92,847 shares in the company, valued at approximately $14,636,401.08. This trade represents a 1.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Fariborz Assaderaghi sold 1,267 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $147.80, for a total value of $187,262.60. Following the completion of the transaction, the insider now owns 113,584 shares of the company's stock, valued at approximately $16,787,715.20. This represents a 1.10 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,809 shares of company stock valued at $1,165,975. 2.30% of the stock is currently owned by company insiders.
SiTime Trading Up 4.7 %
Shares of SITM traded up $7.29 during mid-day trading on Friday, reaching $163.82. The company had a trading volume of 262,526 shares, compared to its average volume of 242,006. SiTime Co. has a fifty-two week low of $92.36 and a fifty-two week high of $268.18. The firm has a fifty day simple moving average of $152.47 and a 200-day simple moving average of $189.69. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of -40.45 and a beta of 2.24.
Analysts Set New Price Targets
Several equities analysts recently issued reports on SITM shares. Needham & Company LLC boosted their price target on SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Raymond James reaffirmed an "outperform" rating and set a $250.00 price objective (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. Barclays cut their price objective on SiTime from $180.00 to $110.00 and set an "underweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Stifel Nicolaus lowered their price target on shares of SiTime from $270.00 to $180.00 and set a "buy" rating for the company in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $204.00.
Check Out Our Latest Stock Analysis on SITM
SiTime Profile
(
Free Report)
SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, Singapore, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. It serves various markets, including communications, datacenter, enterprise, automotive, industrial, internet of things, mobile, consumer, and aerospace and defense.
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